Statistics is the science of collecting, analyzing, interpreting, presenting, and organizing data. It involves using mathematical methods to understand patterns, make predictions, and draw inferences from data sets. Key Characteristics / Core Concepts Data Collection: Gathering raw information through surveys, experiments, or observations. Descriptive Statistics: Summarizing and presenting data using measures like mean, median, and … Read more
Statistical modeling involves creating mathematical representations of real-world phenomena to understand, predict, and control them. It uses statistical methods to analyze data and make inferences. Key Characteristics / Core Concepts Data analysis: Gathering, cleaning, and preparing data for analysis. Model selection: Choosing the most appropriate statistical model based on the data and research question. Parameter … Read more
Spreadsheet modeling involves using spreadsheet software, like Microsoft Excel or Google Sheets, to create a simplified representation of a real-world problem or system. This allows for analysis, prediction, and decision-making based on different scenarios. Key Characteristics / Core Concepts Uses spreadsheet software to represent complex systems. Involves building mathematical models using formulas and functions. Allows … Read more
Sports analytics is the application of statistical techniques and data analysis to sports. It involves collecting, cleaning, and interpreting large datasets to gain insights that can improve team performance, player recruitment, and fan engagement. Key Characteristics / Core Concepts Data Collection: Gathering data from various sources like game footage, player statistics, and wearable sensors. Statistical … Read more
The scientific method is a systematic approach to investigating and understanding the natural world. It involves making observations, forming hypotheses, conducting experiments, and analyzing data to draw conclusions. Key Characteristics / Core Concepts Observation: Carefully watching and recording natural phenomena. Hypothesis: A testable explanation for an observation. Experimentation: A controlled test designed to support or … Read more
Research methods are systematic approaches used to conduct research and gather evidence to answer questions or solve problems. They provide a framework for collecting, analyzing, and interpreting data to draw reliable conclusions. Key Characteristics / Core Concepts Systematic: Follows a structured plan and process. Empirical: Based on observable evidence, not assumptions. Replicable: The process can … Read more
Quantitative analysis is a systematic approach to understanding data using mathematical and statistical methods. It focuses on numerical data to identify patterns, trends, and relationships. Key Characteristics / Core Concepts Numerical Data: Relies heavily on measurable data, such as numbers and figures. Statistical Methods: Employs techniques like regression analysis, hypothesis testing, and probability distributions. Mathematical … Read more
Qualitative research is a type of research that focuses on gaining an in-depth understanding of underlying opinions, reasons, assumptions, and motivations. It uses complex, interwoven variables that are difficult to measure directly. It’s less about numbers and more about rich, detailed descriptions and interpretations. Key Characteristics / Core Concepts Focuses on in-depth understanding of experiences, … Read more
Model building is the process of creating a simplified representation of a real-world system or phenomenon. This representation, or model, is used to understand, predict, or simulate the behavior of the system. Key Characteristics / Core Concepts Simplification: Models abstract away unnecessary details to focus on essential aspects. Representation: Models use various forms (mathematical equations, … Read more
Market research is the process of gathering, analyzing, and interpreting information about a market, a specific product or service within a market, or a customer base. It provides insights into consumer behavior, preferences, and needs to inform business decisions. Key Characteristics / Core Concepts Data Collection: Gathering information through surveys, interviews, focus groups, and observation. … Read more